Key Developments: Gannett Co Inc (GCI)

GCI on New York Consolidated

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25 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Gannett completes acquisition of six London Broadcasting Company TV stations from SunTx Capital Partners
Tuesday, 8 Jul 2014 02:00pm EDT 

Gannett Co Inc:Announces acquisition of six of London Broadcasting company's television stations in Texas for $215 million in an all-cash transaction.Acquisition includes KCEN (NBC) in Waco-Temple-Bryan, KYTX (CBS) in Tyler-Longview, KIII (ABC) in Corpus Christi, KBMT (ABC) and its digital sub-channel KJAC (NBC) in Beaumont-Port Arthur, KXVA (FOX) in Abilene-Sweetwater and KIDY (FOX) in San Angelo.  Full Article

Gannett Co., Inc and Sander Media LLC complete sale of KTVK-TV and KASW-TV to Meredith Corporation
Thursday, 19 Jun 2014 03:20pm EDT 

Gannett Co., Inc and Sander Media LLC:Says they completed the previously announced sale of KTVK-TV and KASW-TV in Phoenix, AZ, to Meredith Corporation, following receipt of regulatory approvals.As part of sale, Sander Media has conveyed to Meredith substantially all of its assets used in the operation of both KTVK-TV and KASW-TV, which Sander Media acquired upon completion of the Gannett-Belo transaction on Dec. 23, 2013.In addition, Gannett has conveyed certain other assets that it used to provide services to both KTVK-TV and KASW-TV, which Gannett acquired from Belo Corp upon close of Gannett-Belo transaction.At closing, Meredith simultaneously conveyed KASW-TV to SagamoreHill of Phoenix, LLC, which, through its affiliates, owns and operates two television stations in two markets.Total sale price of combined stations (KTVK-TV and KASW-TV in Phoenix and KMOV-TV in St. Louis) was $407.5 mln in cash.  Full Article

Gannett Co Inc purchases HotelMe
Friday, 23 May 2014 12:00pm EDT 

Gannett Co Inc:Concludes purchase of HotelMe, website providing authenticated user-generated hotel reviews.Launched in 2012, HotelMe is a joint venture between Gannett, USA TODAY Travel Media Group and District Hospitality Partners.  Full Article

Gannett Co Inc reports Classified Ventures' agreement to sell Apartments.com
Monday, 3 Mar 2014 07:21am EST 

Gannett Co Inc:Classified Ventures, LLC has agreed to sell Apartments.com, which represents about one-fourth of Classified Ventures net income, for $585 mln to CoStar Group Inc.Transaction expects to close during the second quarter of 2014.Company expects to use proceeds of sale to reduce debt and for other purposes consistent with Gannett's stated capital allocation strategy.  Full Article

Gannett Co Inc and Sander Media LLC complete sale of KMOV-TV to Meredith Corp
Friday, 28 Feb 2014 12:30pm EST 

Gannett Co Inc:Completes the sale of KMOV-TV in St. Louis, MO, to Meredith Corp for $177 mln.  Full Article

Gannett Co Inc announces quarterly dividend
Tuesday, 25 Feb 2014 03:39pm EST 

Gannett Co Inc:Declares a dividend of $0.20 per share.Payable on Apr. 1 to stockholders of record as of the close of business on Mar. 7.  Full Article

Gannett Co Inc completes acquisition of Belo Corp
Monday, 23 Dec 2013 12:24pm EST 

Gannett Co Inc:Says it has completed its previously announced acquisition of Belo Corp. for $13.75 per share in cash, in addition to the assumption of $715 million of outstanding debt, for a total transaction value of $2.2 billion.Says J.P. Morgan Securities LLC provided financial advice and Nixon Peabody LLP, Covington & Burling LLP, and Paul Hastings LLP served as legal advisors to Gannett on the transaction.Says RBC Capital Markets, LLC provided financial advice and Wachtell, Lipton, Rosen & Katz and Wiley Rein LLP served as legal advisors to Belo.  Full Article

Gannett Co Inc and Sander Media announce that KMOV-TV, KTVK-TV And KASW-TV will be sold for $407.5 mln in cash
Monday, 23 Dec 2013 10:00am EST 

Gannett Co Inc:Says that the company and Sander Media LLC announced that KMOV-TV in St. Louis, MO, will be sold to Meredith Corporation.Says as part of the sale, Sander Media will convey to Meredith substantially all of the assets used in the operation of KMOV-TV which Sander Media will acquire upon close of the Gannett-Belo transaction.Says it will convey certain other assets that are needed to provide services to KMOV-TV, which Gannett will acquire from Belo upon close of the Gannett-Belo transaction.Says the agreed upon purchase price for the three stations is $407.5 million in cash, contingent upon regulatory approvals and other customary closing conditions.  Full Article

Gannett Co Inc and Belo Corp reach agreement with U.S. Department of Justice
Monday, 16 Dec 2013 02:02pm EST 

Gannett Co Inc and Belo Corp:Says they have reached an agreement with the U.S. Department of Justice that should enable the companies to complete the previously announced acquisition of Belo in 2013.Says Gannett, Belo and Sander Media LLC, a third party operator who will acquire certain broadcast stations in markets where Gannett and Belo overlap, entered into a proposed consent decree with the DOJ.Says pursuant to which Gannett and Sander will divest substantially all of the assets used in the operation of KMOV-TV in St. Louis, Missouri, which is currently owned by Belo.Says the divesture is expected to occur in 2014.  Full Article

Gannett Co Inc Announces Quarterly Dividend
Tuesday, 29 Oct 2013 04:11pm EDT 

Gannett Co Inc announced that its Board of Directors declared a dividend of $0.20 per share, payable on January 2, 2014 to stockholders of record as of the close of business on December 6, 2013.  Full Article

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Gannett profit and revenue led by TV stations

- Newspaper and broadcast company Gannett Co reported higher revenue and earnings on Tuesday, benefiting from its acquisition of Belo's TV stations.

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